#202 - Bitcoin Security Expert Explains The ColdCard Hack (Protect Your BTC)

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In this episode, Matthew sits down with Tony from The Bitcoin Way to unpack the recent ColdCard bug that led to drained wallets and renewed debate around self‑custody. They break down what actually happened, why Bitcoin itself remains secure, and how the community is levelling up its security standards.

◼️ what caused the cold card vulnerability

◼️ how independent entropy and passphrases protect your Bitcoin

◼️ why self‑custody is still the only way to win

◼️ how The Bitcoin Way helps users stay sovereign and secure

Timestamps:

00:00:00 - Introduction

00:01:06 - Guest Introduction: Tony from the Bitcoin Way

00:01:44 - Understanding the ColdCard Bug

00:02:47 - Self-Custody: Not a Failure

00:05:10 - Community Response and Vulnerability Awareness

00:08:03 - Security Measures for ColdCard Users

00:10:25 - The Role of Education in Bitcoin Security

00:13:05 - Self-Custody vs. Exchange Risks

00:14:20 - Government Regulations and Risks

00:17:21 - Trust in Hardware Wallets

00:19:54 - Using Dice Rolls for Entropy

00:22:18 - Importance of Passphrases

00:24:20 - Investing in Education for Security

00:30:08 - Practicing Bitcoin Transactions

00:30:34 - Steps to Mitigate Future Risks

00:32:14 - Single-SIG vs. Multi-SIG Wallets

00:35:27 - Conclusion and Future of Self-Custody

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DISCLAIMER

This is not financial, investment, tax, or legal advice. I'm not a licensed advisor. Bitcoin and SMSF strategies can carry significant risks; consult a qualified tax accountant and SMSF specialist before making any decisions. I may earn affiliate commissions from links I share, but this doesn't affect your cost.